Yesterday’s unexpected sharp rise in counter-dollar currency quotes raises a difficult question – will the GBP/USD pair climb above the resistance level of 1.2422 and rise further to the next target at 1.2598, or will the price reverse from the resistance level and fall below the MACD line (1.2283)?
The flag formed by the signal line of the Marlin oscillator indicates a slight advantage of the bearish option, but of course we need to wait for the situation to be resolved.
A weak divergence has been formed on the four-hour chart. If the price goes under the MACD line, below 1.2346, it will confirm the intention of a reversal, after which we expect an attack to 1.2283.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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